With urbanisation in Africa growing at an unprecedented rate in recent years, it has become a necessity for these countries to find a sustainable solution to address their increasing urban transport and mobility needs.
It is therefore evident that Africa has the potential to reinvent its transport sector by implementing digital technology based solutions which are able to improve and transform the various modes of public transport to meet the increasing demand. There has been a massive increase in mobile connectivity across the continent, which opens up the ability for providers to harness digital payment technologies for smartphone-based transactions.
A biometric payment system is one such solution which is not only capable of managing high demand, but also providing secure transactions which will enable a large number of people to access financial services for the first time in their lives. The data provided by a digital payment system is one of the greatest benefits for the transport operators/owners, enabling them to monitor their ecosystem with complete visibility and vastly improved control.
Although the shift from a cash-based to a digital payment system does present challenges, the benefits to both commuters and owners/operators is undisputable. Waxd is enabling the successful implementation of digital biometric payment solutions for public transport, thereby creating financial inclusion for all.
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